Engage Us For SMSF Audit

We are a specialist SMSF audit provider and we pride ourselves on our effective and efficient service. We provide auditing services to SMSF Trustees, accountants and financial planners alike.

Before engaging us for audit, you would need to read our Audit Engagement Letter which clarifies our auditor roles and responsibilities under the Superannuation Industry (Supervision) Act 1993 (the SIS Act) and Regulations.

The Audit Engagement Letter, signed by both the auditor and Trustees, will avoid any misunderstanding as to the nature and the extent of the audit. It should confirm the auditor’s acceptance of the appointment and clearly document the scope of the audit.

During the audit we will also ask you to sign a Trustee Representation Letter. We will then issue you with an audit report. Keep this report on your records. Remember, the audit report is not sent to the ATO with your SMSF tax return.

Audit Document Checklist

When we conduct an SMSF Audit, it consists of two parts:

  • The Financial Report Audit
  • The Compliance Report Audit

The main components of the Audit file required for a Financial Report Audit are:

The main components of the Audit file required for a Compliance Audit Report are:

  • Permanent files for the SMSF
    Copy of signed Trust Deed

    For our sample Trust Deed, please see here

    Copy of signed Minutes of Meetings

    For our sample Minutes, please see here

    Copy of signed Investment Strategy

    For our sample Investment Strategy, please see here

    Copy of signed Consent to act as Trustee and Member Applications

    For our sample Trustee Consent and Member Application, please see here

    Copy of signed Trustee Declaration, only applicable for SMSFs that were set up after 1 July 2007

    For our sample Trustee Declaration from the ATO, please see here

    To download our Permanent files templates, please see here.
  • Copy of signed Pension documentation, if the Fund is in pension mode
  • Actuarial Certificate, if applicable
  • Life insurance certificate for Members, if applicable
  • ASIC Annual Return if the SMSF has a company acting as the Trustee of the Fund

The sources of information used to prepare the Financial Statements are noted below:

To learn more about our audit process and to obtain an online SMSF audit quote, please follow this link.

FAQs (click on the question to reveal the answer)

Q: When does the Trustee need to appoint an approved auditor to audit the SMSF ?

A: The Trustee must appoint an approved SMSF auditor to audit the SMSF, no later than 45 days before lodging the SMSF annual return.


  • https://www.auditax.com.au Kunal Ghangas

    Tips for SMSF Audits
    Last year has changed the world’s norms in many senses, and in this new era that is fighting and recovering from a pandemic at the same time, one of the best things that have prevailed is ‘preparedness’. And it does apply to the SMSF audit field as well. In this article, we are going to share some SMSF audit tips that can come in handy in these unpredictable times.

    —–Tips to follow for self-managed super fund audits!

    Here are some tips that you can follow during your super fund auditor to have a smooth audit experience.

    1. Keep documents for early release of super benefits

    When there is an early release of SMSF lump sum payment based on approval by ATO on account of coronavirus pandemic, you as an SMSF trustee must maintain the following documents:

    – Approved letter issued by the ATO.

    – Signed application made by fund members to the superfund for early release or

    – Signed copies of minutes of trustees’ meetings approving the early lump sum payment.

    – Signed copies of confirmation letters sent to the members by the trustees.

    2. Keep an eye on reduced minimum pension withdrawal limits

    In the case of minimum pension withdrawals, an SMSF auditor will verify that the reduced minimum limit allowed has not already been used or exceeded by the member.

    3. Ensure reasonableness of rent relief granted to members and maintain proper documents

    SMSF auditors will check the reasonableness of the rent relief provided to members when they audit your super fund. To convince your super fund auditor that reliefs given are reasonable, you must maintain the following documents:

    – Tenant’s written request for rent relief on the grounds of the economic effect of COVID 19
    to SMSF.

    – Trustees’ minutes of meetings held for approving the rent relief.

    – If the rent relief arrangement is not as per the ‘National’s cabinet mandatory code of
    conduct – commercial leasing principles’ then the justification for the negotiation of the
    alternate arrangement.

    – Agreed updated lease terms.

    4. Ensure loan reliefs to members are reasonable and documentation is complete

    During SMSF auditing, superfund auditors check for the reasonableness of the loan relief provided by the SMSF to its members. To support your claim that loan reliefs are reasonable you must maintain the following audit documents:

    – Member’s written request for loan relief made to trustees on the grounds of the economic
    effect of COVID 19.

    – Trustees’ minutes of meeting confirming the loan relief and the basis of its

    – Agreed updated loan terms.

    5. Disclosure in financial statements

    If the financial statements for the financial year 2019 have not been issued by the SMSF and the value of assets is much lower at the time financial statements are issued than what was mentioned before, then “subsequent events notes” to the financial statement regarding financial year 2019 should be added. Similar disclosure might be required for the financial statements of financial year 2020.

    These were some tips for you to follow during the superfund audit. The more you are prepared for the superannuation audit, the more relaxed you will feel.

Contact Details


Peace Of Mind

We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.

No Advice

Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.